As stated by the IFC, the proposed investment consists of a debt facility to Precious Shipping Public Company Limited, to be drawn down over the next 24 months to support the Company’s plan to purchase up to six dry bulk carrier vessels. Each Project Vessel will be owned and operated under a special purpose company (all six special purpose companies are collectively called “Project Companies”). The Project Companies will be wholly owned by PSL.
PSL corporate offices are in Thailand, while the Project Companies will be incorporated in Singapore. The dry bulk vessels are expected to transport various dry bulk commodities worldwide.
As stated by the IFC, PSL is one of the world’s largest pure dry cargo ship-owning companies operating in the geared (10,000 to 69,000 dead weight tonnage) sector of the tramp freight market. PSL currently operates 34 dry bulk ships and four cement carriers with a total capacity of 1.7 million dead weight tonnage. PSL is a member of the GP Group, a 155-year-old diversified Thai conglomerate with businesses across shipping, pharmaceuticals, construction, and mining sectors. PSL was established in 1989 and was listed on Stock Exchange of Thailand in 1993.
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|Private Actor 1 Role
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|Industry and Trade
|Precious Shipping PCL
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General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Client - Precious Shipping Public Company Limited:
Gautam Khurana - Director (Finance)
Phone: +66 2 696 8858
Address and Local Access for Project Documentation: 8 North Sathon Road, Silom, Bangrak, Bangkok, 10500, Thailand
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